MetLife, Inc. (MET) Stock Rating Reaffirmed by Wells Fargo & Company
MetLife, Inc. (NYSE:MET)‘s stock had its “buy” rating reaffirmed by investment analysts at Wells Fargo & Company in a report issued on Monday.
Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $59.00 price objective on shares of MetLife in a report on Thursday. Zacks Investment Research cut MetLife from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. TheStreet upgraded MetLife from a “c” rating to a “b-” rating in a research note on Monday, July 24th. FBR & Co upgraded MetLife from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $54.00 to $58.00 in a research note on Thursday, May 25th. Finally, J P Morgan Chase & Co initiated coverage on MetLife in a research note on Monday, July 24th. They set a “hold” rating and a $78.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. MetLife presently has a consensus rating of “Hold” and an average price target of $59.02.
Shares of MetLife (NYSE:MET) traded up 1.46% on Monday, reaching $48.75. The company’s stock had a trading volume of 5,883,384 shares. The stock has a market cap of $53.00 billion, a PE ratio of 547.75 and a beta of 1.46. MetLife has a 1-year low of $38.87 and a 1-year high of $58.09. The company’s 50 day moving average is $54.59 and its 200-day moving average is $53.07.
MetLife (NYSE:MET) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. The business had revenue of $17.39 billion for the quarter, compared to the consensus estimate of $17.11 billion. MetLife had a return on equity of 8.51% and a net margin of 0.30%. MetLife’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share. On average, equities analysts predict that MetLife will post $5.31 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MET. BlackRock Inc. raised its position in MetLife by 3,323.3% in the first quarter. BlackRock Inc. now owns 68,475,870 shares of the financial services provider’s stock worth $3,616,895,000 after buying an additional 66,475,603 shares in the last quarter. Vanguard Group Inc. raised its position in MetLife by 3.0% in the first quarter. Vanguard Group Inc. now owns 65,364,620 shares of the financial services provider’s stock worth $3,452,559,000 after buying an additional 1,885,246 shares in the last quarter. State Street Corp raised its position in MetLife by 1.4% in the first quarter. State Street Corp now owns 49,020,964 shares of the financial services provider’s stock worth $2,589,297,000 after buying an additional 680,903 shares in the last quarter. Geode Capital Management LLC raised its position in MetLife by 6.9% in the first quarter. Geode Capital Management LLC now owns 10,265,096 shares of the financial services provider’s stock worth $541,427,000 after buying an additional 664,918 shares in the last quarter. Finally, Morgan Stanley raised its position in MetLife by 5.4% in the first quarter. Morgan Stanley now owns 7,946,397 shares of the financial services provider’s stock worth $419,728,000 after buying an additional 404,104 shares in the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.
MetLife, Inc is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include U.S.; Asia; Latin America; Europe, the Middle East and Africa (EMEA); MetLife Holdings; Brighthouse Financial, and Corporate & Other. Its U.S. segment is organized into Group Benefits, Retirement and Income Solutions and Property & Casualty businesses.
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